Liberty Mutual Insurance has unveiled its new Benefits Select product line in an effort to better serve mid-sized businesses and the employee benefits consultants and brokers who work with them. The Benefits Select group disability product suite is designed to be a cost-effective way for these employers to be able to offer more attractive passengers to current and potential employees so that they will experience better retention while still keeping an eye on the bottom line. According to the chief operating officer at the group benefits unit of Liberty Mutual…
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The search for disability insurance
Group disability insurance is a form of protection for a group of people who are connected in some way – such as through an organization such as a trade association or employer – and covers the individuals from the losses to which they are exposed in the case of illness or an injury from an accident. Group disability insurance is typically less expensive than a policy purchased by an individual, though it should be noted that the benefits are limited to a maximum monthly income and a certain length of…
Read MoreThe risk of neglecting to purchase disability insurance
Experts are advising individuals to consider disability insurance as they regularly see people without any or without enough coverage, but who could have benefitted from it to protect their financial lives. Though many large companies will offer short-term and long-term disability insurance, this is frequently not the case among small businesses or those who are self employed. Agents are advising many customers to consider the type of loss they would experience should they suffer an injury or catastrophic illness occur that would make it impossible to continue earning an income.…
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